Chase Paymentech merchant index shows surge in online holiday sales
Online sales volume at the 10 U.S. e-retailers tracked by the Chase Paymentech Pulse Index rose 38% year-over-year for the on weekend after Thanksgiving, Chase reports.
“Shoppers have been using their mouse as much as their cars this holiday season,” said Mike Duffy, president and CEO, Chase Paymentech. “Less than two weeks into the holiday shopping season, sales volume for Chase Paymentech Pulse Index merchants this year is more than 30% above last year’s total volume. We’re starting seeing a shift of consumer shopping preference during the peak season.”
Online sales tracked by the index reached $104.8 million on the Monday after Thanksgiving, then continued to grow to higher volumes. Online sales volume reached $134 million on Wednesday, Nov. 28, driven by 2.1 million transactions—for the highest-ever online sales volume in the three years that Chase Paymentech has tracked the index, the company says. Index sales volume reached $113.4 million on Thursday, Nov. 29, up 55% from a year ago and just under the highest single-day volume of 2006, Chase adds.
Since Black Friday, Nov. 25, the day after Thanksgiving, daily online sales volume has grown 30-35% year-over-year, with the most activity on Tuesday and Wednesday, Chase says.
“Based on the early season activity, we expect that consumers will continue to leverage the value and convenience of online retailers,” Duffy says. “If previous years’ results are to be used as a barometer, we will see an increase of last-minute shopping taking place from Dec. 18 to 20, as Americans place orders that can be delivered in time for the Christmas holiday.”
Back...
